An HEI module doesn't need a magnetic signal to fire. A points signal works just as well. I've used this setup for a few years.
points dizzy '76 620.
Ford remote ign. module, Found mounted on starboard fender of Ford Aerostar vans '86 up. Gray units are non cumputer, black are computer models.
HEI coil. This came off a Mercedes, $10. Quite a hot setup. Instant cold starts year round. Point gap set to .010-.012. No point bounce or fiber wear. Points last forever.
I later considered the GM module would be a simpler cheaper install, wired the same as with the remote dist. but "G" would be ground screw and "R" to points. Although the GM, I believe, fires on signall "off" (points close, the Ford is "+" , points open as is also the matchbox). This would retard the timing some and need the dist. advanced.
Last year I wired a matchbox module into my motorcycle points ignition in the same manner. Huge improvement in ease of starting.